Shafaq News/ A huge portion of the money looted in the notorious tax scandal known as "the theft of the century" has been moved outside Iraq, Prime Minister Mohammad Shiya al-Sudani said on Tuesday.
Speaking in a press conference following an ordinary cabinet meeting today, al-Sudani said, "Iraq is a member of the United Nations Convention against corruption... Other member states should commit to the convention and cooperate with Iraq."
"Preliminary information indicates that a huge portion of the stolen three trillion where moved outside Iraq," he said.
This latest scandal, revealed in October by a minister in the former government, has caused a political storm in corruption-plagued Iraq and is being dubbed domestically as "the theft of the century".
In the embezzlement, an amount of 3.7 trillion Iraqi dinars (almost $2.5 billion) was fraudulently paid to five companies by the General Commission of Taxes. The money was paid through 247 cheques between September 9, 2021, and August 11, 2022, from the commission's account at the state-run Rafidain Bank.
According to the findings of an internal investigation conducted by the ministry, the companies —at least three of them established last year— submitted fake documents for their claims.
Those funds were deposited by trading companies and individuals as a guarantee to pay taxes after finishing projects commissioned by the government or importing goods. The companies and individuals can later apply to withdraw what is left from their deposits after deducting the taxes.
Corruption has been rife in Iraq since the 2003 US-led invasion that toppled Saddam Hussein. Many politicians have been arrested or removed from office for the practice.
Iraq is considered one of the most corrupt countries in the world. It ranked 157th out of 180 nations on Transparency International’s 2021 corruption index.
